Chaves County, New Mexico Housing Market
In Chaves County, New Mexico, the median home value is $156,400, with a median monthly rent of $867. This places Chaves County at #2108 nationally out of 3134 counties by median home value, and #21 within New Mexico.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $874
- Establishments: 1,664
- BLS QCEW, 2025
Housing Supply
- Single-family: 75
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 22,958 (avg $60,562)
- Outflow: 21,714 (avg $61,100)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 2 active ZIP codes in Chaves County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 88203 | 276.2 | -3.66% | 2025 |
| 2 | 88201 | 248.2 | +4.50% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Chaves County Compares
| Metric | Chaves County | New Mexico Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $156,400 | $192,727 | $227,706 |
| Median Gross Rent | $867 | $904 | $968 |
| Owner Occupancy Rate | 71.3% | 74.2% | 73.3% |
| Price/Rent Ratio | 15.0 | 17.7 | 18.7 |
Market Analysis
The median home value in Chaves County is 18.8% below the New Mexico state average and 31.3% below the U.S. national average. The median rent of $867/month is 4.1% below the state average.
With a price-to-rent ratio of 15.0, the buy-vs-rent decision in Chaves County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Chaves County has an owner-occupancy rate of 71.3%, compared to 74.2% in New Mexico and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Williamson County | Illinois | $156,400 | $930 |
| Pulaski County | Indiana | $156,400 | $772 |
| Hamilton County | Iowa | $156,400 | $877 |
| Warren County | Mississippi | $156,400 | $888 |
| Bennett County | South Dakota | $156,400 | $617 |
Other Counties in New Mexico
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Torrance County | $159,700 | $872 | 81.7% |
| Sierra County | $152,600 | $729 | 71.8% |
| Otero County | $162,700 | $962 | 67.0% |
| Catron County | $167,000 | $736 | 93.8% |
| Colfax County | $167,200 | $729 | 71.8% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).